Bank of New York Mellon Corp Cuts Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Bank of New York Mellon Corp decreased its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 5.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 995,332 shares of the company’s stock after selling 58,430 shares during the period. Bank of New York Mellon Corp owned about 0.33% of Bentley Systems worth $39,156,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA grew its stake in Bentley Systems by 0.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 5,614,750 shares of the company’s stock valued at $262,209,000 after acquiring an additional 24,019 shares in the last quarter. Bessemer Group Inc. grew its stake in Bentley Systems by 8,187,760.9% during the 1st quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company’s stock valued at $74,086,000 after acquiring an additional 1,883,185 shares in the last quarter. AXA S.A. grew its stake in shares of Bentley Systems by 7.6% in the 4th quarter. AXA S.A. now owns 1,603,157 shares of the company’s stock valued at $74,867,000 after buying an additional 112,824 shares during the period. Northern Trust Corp grew its stake in shares of Bentley Systems by 18.9% in the 4th quarter. Northern Trust Corp now owns 1,439,065 shares of the company’s stock valued at $67,204,000 after buying an additional 228,502 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Bentley Systems by 11.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 871,594 shares of the company’s stock valued at $40,711,000 after buying an additional 90,860 shares during the period. Hedge funds and other institutional investors own 44.16% of the company’s stock.

Analyst Ratings Changes

BSY has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Bentley Systems from $52.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, April 9th. Mizuho decreased their price objective on shares of Bentley Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Oppenheimer upped their target price on shares of Bentley Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Wall Street Zen raised shares of Bentley Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, July 8th. Finally, UBS Group upped their target price on shares of Bentley Systems from $48.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $52.30.

Insider Transactions at Bentley Systems

In related news, Director Keith A. Bentley sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $55.54, for a total value of $8,331,000.00. Following the sale, the director owned 3,859,327 shares of the company’s stock, valued at approximately $214,347,021.58. This represents a 3.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Brock Ballard sold 12,363 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total value of $557,324.04. Following the completion of the transaction, the executive directly owned 68,064 shares of the company’s stock, valued at approximately $3,068,325.12. This trade represents a 15.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,181,519 shares of company stock worth $60,257,023. Corporate insiders own 20.56% of the company’s stock.

Bentley Systems Stock Up 1.1%

Shares of NASDAQ:BSY opened at $56.98 on Tuesday. The stock has a market cap of $16.63 billion, a P/E ratio of 72.13, a P/E/G ratio of 4.58 and a beta of 1.09. The firm has a fifty day moving average price of $50.28 and a 200 day moving average price of $46.22. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.49 and a quick ratio of 0.49. Bentley Systems, Incorporated has a 1-year low of $36.51 and a 1-year high of $57.42.

Bentley Systems (NASDAQ:BSY) last released its earnings results on Wednesday, May 7th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.30 by $0.05. Bentley Systems had a net margin of 18.46% and a return on equity of 29.18%. The company had revenue of $370.54 million during the quarter, compared to analysts’ expectations of $366.76 million. During the same quarter last year, the business earned $0.31 EPS. The business’s revenue was up 9.7% on a year-over-year basis. Sell-side analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current year.

Bentley Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Tuesday, June 3rd were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Tuesday, June 3rd. Bentley Systems’s dividend payout ratio is currently 35.44%.

Bentley Systems Company Profile

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.